Yahoo to be MySpace saviour?
Posted in General, Digital, Branwell Johnson, Latest reporters' blogs June 21st, 2007 by Branwell Johnson
Behind closed doors Rupert Murdoch has been sounding out Yahoo about swapping MySpace for a 25 per cent stake in the internet portal. Does this mean Murdoch has recognised that News Corp’s prodding, poking and commercialising of MySpace has helped drive the younger, desirable demographic elsewhere eg Facebook? Or is it recognition that News Corp, despite protestations to want to embrace web 2.0 initiatives, finds that its culture just isn’t capable of handling brands that it has not developed itself?
The Times and Sun newspaper brands have met with some success online but maybe News Corp management has realised that it just can’t exert the control it is accustomed to over sites such as rottentomatoes and Myspace. A 25 per cent stake in Yahoo! is a great return for the financial investment in MySpace by the way and shows it was an adroit buy initially. Maybe if the deal goes through Yahoo! will be able to rejuvenate MySpace and restore its credibility.
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Tags MySpace, Facebook, Social Networking, Rupert Murdoch, Yahoo
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